Today we'll analyze the Stock GE for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 34.66$ (02/13/08) to 31.70$ (03/10/08) a 2.96$ move
2- The current bullish trend started from 31.70$ at 03/10/08 and is currently trading at 37.49$.
3- According to ADX, the trend is currently bullish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :
4- The Stock was resisted by a resistance line, identified by two points: 34.66 and 35.83 that was broken up at 33.4 transforming into a supporting line.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 35.83 and 41.39 that was broken up at 34.33 transforming into a supporting line.
Long term chart patterns :
None.
Conclusion:
GE was trading in a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
.
Resistance Levels: .
Support Levels: 36.12, 35.28, 34.60, 33.91, 33.65, 31.70,.
We Moved!!
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Friday, March 21, 2008
General Electric Company (GE) Technical Analysis
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have a nice day,
Shadi
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